The bareboat charter to the I.M. Skaugen ASA and Teekay Shipping joint venture is for 10 years fixed, with a five-year option. The vessel was built at Tsuneishi, Japan and is owned by Bergshav Tankers will be managed by Bergshav Management AS.
SPT, the largest lightering company in the world, provides ship-to-ship transfer of crude oil, primarily in the waters of the US coasts. The company handles around one million barrels of oil daily, equating to roughly 10 per cent of US seaboard oil imports. The delivery of the six new aframax tankers will considerably improve the company's ability to develop increased business without the need to hire-in additional vessels.